Crypto is on the rise. What regulation is being applied to it today and what will MiCA bring?

Both Slovak and European legislation, despite the absence of more specific rules, already regulates business in the crypt in some areas. These are mainly financial and tax regulations. Part of this is harmonised within the European Union and part remains the burden of Slovak legislation. However, this is naturally paralysed by the lack of capacity and the complexity and dynamics of the development of the crypto world.

However, in the absence of addressable regulation and because the crypt business is legislated unsystematically in a number of pieces of legislation, the crypt business is largely left to legal uncertainty. Therefore, crypto entrepreneurs, for example in the areas of token issuance, DeFi operations, advisory and trustee activities, capital raising, etc., do not necessarily fall under fully recognizable regulatory and tax frameworks. And even if they do, those rules are often scattered among several pieces of legislation.

Peter Varga has therefore prepared a video summarizing the application of specific laws and European regulations to different types of business in the crypt as well as to the new regulation that is planned to be implemented at the level of the European Union.

If you are interested in this topic, please do not hesitate to contact us.